For Hospital CFOs, ICD-10 Delay a Costly Disappointment
Daniel Moncher, executive vice president and CFO at Firelands Regional Medical Center, a 236-bed institution in Sandusky, OH, is also frustrated with the legislation, saying, "I am very disappointed with the news. This is a necessary transition in U.S. healthcare, and we need to move forward with it and not keep delaying the implementation.…Personally and as an organization, we are anxious for the beginning of ICD-10 and would have preferred an October 1, 2014, start date."
"Our organization is prepared for ICD-10, and this delay will mean we cannot utilize the skill set we have trained everyone on for another year," he adds.
Although Moncher cannot quantify the exact cost of the delay, he says there is no doubt that it will add expense.
"This will increase our overall total costs of implementation," he says.
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